Buying a second hand computer for business use

[NotReallyButSeriously]

Is it possible to buy a second hand computer from a friend for business use and claim it as an expense?

Would going through eBay or something make it easier as I can get a receipt?

[Sockpuppet]

Your friend can give you a receipt. As long as you pay the market rate that its worth (no paying £5k for a £200 laptop) then there shouldn't be a problem.

[JamJarST]

Just as a matter of interest, why do you want to buy a second hand one? There are brand new computers available for nearly every budget.

[NotReallyButSeriously]

Just as a matter of interest, why do you want to buy a second hand one? There are brand new computers available for nearly every budget.

£600 i5 iMac, only 3 months old... who would pass on that offer lol?

[NotReallyButSeriously]

Your friend can give you a receipt. As long as you pay the market rate that its worth (no paying £5k for a £200 laptop) then there shouldn't be a problem.

With this, should there be anything specific on there?

[Greg@CapitalCity]

With this, should there be anything specific on there?

A hand written receipt is fine. Include on there;
1. Date of sale;
2. Name and address of current owner;
3. Description of the goods;
4. Amount goods were sold for;
5. That the goods were sold to your ltd company;
6. Get both parties to sign it;

[Wobblyheed]

£600 i5 iMac, only 3 months old... who would pass on that offer lol?

Me.....cos I hate Apple

[contractoralan]

Check out the price of the same or similar product on ebay. Take a printout and retain it, just in case HMRC disputes.
If you do not find a used product, print out the cost of a new one.

It will also be useful if your mate gives you a copy of the original invoice - confirming the date of purchase and the original value.